• 9:00 – 9:15 : Opening Periodic Order Matching. Orders used: ATO, LO
• 9:15–11:30 : Continuous Matching Session I. Orders used: LO, MTL.
• 13:00–14:30: Continuous Matching Session II. Orders used: LO, MTL.
• 14:30 – 14:45 : Closing Periodic Order Matching. Orders used: ATC, LO.
• 9:00 – 11:30,  13:00 – 14:45: Odd-lot Order Matching Trading. Orders used: LO.
• 9:00 – 11:30,  13:00 – 15:00: Negotiation Trading (Even-lot and Odd-lot).

• 9:00 – 11:30: Continuous Matching Session I Orders used: LO, MTL, MOK, MAK.
• 13:00 – 14:30: Continuous Matching Session II. Orders used: LO, MTL, MOK, MAK.
• 14:30 – 14:45: Closing Periodic Order Matching. Orders used: ATC, LO.
• 14:45 – 15:00: Post-Market Order Matching. Orders used: PLO.
• 9:00 – 11:30, 13:00 – 14:45: Odd-lot Order Matching Trading. Orders used: LO.
• 9:00 – 11:30, 13:00 – 15:00: Negotiation Trading (Even-lot and Odd-lot).

BONDS:

• 9:00 – 11:30, 13:00 – 14:30: Continuous Order Matching. Orders used: LO
• 14:30 – 14:45: Closing Periodic Order Matching.
• 9:00 – 11:30, 13:00 – 15:00: Negotiation Trading.

• 9:00 – 11:30, 13:00 – 15:00: Continuous Order Matching & Negotiation. Orders used: LO (applies to both even-lot and odd-lot).

TRADING of RESTRICTED SECURITIES

• ATO session (ATO, LO order): 9h - 9h15
• PCA 1 (LO order): 9h15 - 9h30
• PCA 2 (LO order): 9h30 - 9h45
• PCA 3 (LO order): 9h45 - 10h
• PCA 4 (LO order): 10h - 10h15
• PCA 5 (LO order): 10h15 - 10h30
• PCA 6 (LO order): 10h30 - 10h45
• PCA 7 (LO order): 10h45 - 11h
• PCA 8 (LO order): 11h - 11h15
• PCA 9 (LO order): 11h15 - 11h30
• PCA 10 (LO order): 13h - 13h15
• PCA 11 (LO order): 13h15 - 13h30
• PCA 12 (LO order): 13h30 - 13h45
• PCA 13 (LO order): 13h45 - 14h
• PCA 14 (LO order): 14h - 14h15
• PCA 15 (LO order): 14h15 - 14h30
• ATC session (LO order): 14h30 - 14h45

Order Matching Trading:

• Periodic: Orders are matched at a specific time (ATO at 9:15 and ATC at 14:45).
• Continuous: Orders are matched immediately upon being entered into the trading system.

Negotiation Trading

Order Matching Trading:

• Periodic: Orders are matched at a specific time (ATC at 14:45).
• Continuous: Orders are matched immediately upon being entered into the trading system.

ATO (At The Opening) / ATC (At The Closing):

• These are orders to buy/sell securities at the opening (or closing) price.
• These orders do not specify a price; instead, they are marked as ATO/ATC.
• These orders are not prioritized over LO (Limit Order) during the matching process and are automatically canceled if not matched.

LO (Limit Order):

• This is an order with a specified price, to buy/sell securities at a determined price or better.
• The order remains valid until the end of the trading day or until it is canceled.

MTL (Market-to-Limit Order):

• This is an order that, if not fully executed, the remaining portion of the order will be converted into a limit order (LO) based on the following rules:
  • Limit buy order: The most recent matched price + 1 price unit (or the ceiling price).
  • Limit sell order: The most recent matched price – 1 price unit (or the floor price).

MTL (Market-to-Limit Order):

• This is an order that, if not fully executed, the remaining portion of the order will be converted into a limit order (LO) based on the following rules:
  • Limit buy order: The most recent matched price + 1 price unit (or the ceiling price).
  • Limit sell order: The most recent matched price – 1 price unit (or the floor price).

MOK (Market Order - Fill or Kill):

• This is a market order that, if not fully executed, is immediately canceled on the trading system after being entered. It is a market order; if not fully executed, it will be canceled on the trading system immediately after being entered.

MAK (Market Order - Fill and Kill):

• This is a market order that can be executed fully or partially, with the remaining portion of the order being canceled immediately after matching.

PLO (Post-Limit Order - This is an order to buy or sell securities at the closing price after the closing periodic order matching session ends):

• The PLO order is matched immediately upon entering the system and waits for execution within a specified period. The matched price is the final price at the end of the even-lot matching session.
• In cases where there is no matched price in the even-lot trading session, the PLO order will not be entered into the system.
• At the end of the post-market trading session, any unexecuted PLO orders or remaining portions of the orders will be automatically canceled.

• Price Priority: Orders with better prices (higher for buy orders, lower for sell orders) are prioritized for matching.
• Time Priority: If multiple orders have the same price, the order entered first into the system is prioritized.

• Reference Price is the closing price of the stocks or fund certificates on the previous trading day.
• Reference Price of Covered Warrant (CW) = Issue Price of CW x (Reference Price of Underlying Stock on the First Trading Day of CW/ Reference Price of Underlying Stock on the CW Issuance Annoucement) x (Conversion Ratio on CW Issuance Annoucement Date/ Conversion Ratio on the First Trading Day of CW)

• For negotiated transactions: 1 VND

• For matching transactions: 10 VND

• Account number modification; modification of both the price and quantity of the same order is not allowed.

• Modifying price/quantity or canceling orders only applies to the original order that has not been executed or the remaining portion of an unexecuted order.

• During the continuous matching session: LO (Limit Order) orders are allowed to modify price or quantity, or cancel during trading hours. The priority order of the modified order is determined as follows:

• • The priority order of the order remains unchanged if only the quantity is reduced.
  • The priority order of the order is recalculated from the time the modified order is entered into the trading system for cases involving increasing the quantity or modifying the price.

• Unexecuted negotiated transactions can be canceled.

• During the order matching period ATO & ATC: It is not allowed to modify or cancel LO, ATO, or ATC orders (including LO orders placed before the session and transferred from the continuous matching session).
• During the Periodical Call Auction session (PCA session): Modification and cancellation are not allowed in the last 5 minutes of each PCA session.

• During the closing price determination session (ATC): It is not permitted to modify or cancel LO or ATC orders (including LO orders transferred from the continuous matching session).
• PLO orders cannot be modified or canceled.

• Stocks/Fund certificates: T+2
• Bond: T+1

• Trading through brokers at MSVN: contact your account manager for more details.
• Trading via call center: (028) 44 555 888, press key 1.
• Online trading:

• • Website KETRADE
  • Maybank Trade VN app for all mobile devices

• Investors are allowed to open multiple securities trading accounts, but only one account per securities company is allowed.
• Investors can place buy and sell orders for the same security during continuous matching sessions but are not allowed to do so during periodic sessions, except when the investor has already placed a buy or sell order during the previous continuous trading session that has not been matched and is still valid. In such cases, the investor can place a sell or buy order for the same security during the periodic matching session. It is not allowed to use accounts of the same investor opened at different securities companies to conduct opposite transactions for the same security on the same day.
• Investors must ensure they have sufficient securities when placing sell orders and sufficient funds when placing buy orders.
• Orders that are partially matched or not yet matched and not canceled during the morning trading session will be automatically transferred to the afternoon session and continue to participate in matching.
• Foreign investors can only purchase a maximum of 49% of the total listed shares/ETFs, and a maximum of 30% of the total listed bank shares or according to other specific ratios as regulated by each company and permitted by law.
• Trading fees will be calculated on each matched deal and rounded to the nearest unit.
• Investors can see more details about other regulations in the Trading Regulations issued by the Stock Exchange.

No.

CRITERIA

APPLICABLE POLICY

1

Initial Margin Ratio (“IM”)

17%

2

Margin Usage Ratio (“MR”) after opening a position

MR < 75%

3

Maintenance Margin Usage Ratio (“Maintenance MR”)

85%

4

Processing Margin Usage Ratio (“Processing MR”)

95%

5

Post-Processing Margin Usage Ratio (“Post-Processing MR”) due to MR violations

MR < 75%

6

Conditions for withdrawing/transferring money out of the futures trading account

Customers can withdraw their cash balance after fulfilling their obligations at MSVN

7

Deadline for customers to settle margin losses (VM)

The morning of the next trading day following the occurrence of margin loss (T+1).

8

VIOLATION HANDLING

8.1 Warning Level 1: 75% ≤ MR < 85%

Customers are not allowed to open new positions, except for conducting opposite transactions to close existing positions.

8.2  Warning Level 2: 85% ≤ MR < 95%

Customers must either supplement their margin assets or reduce their current positions within the timeframe required by MSVN to bring the margin usage ratio below Warning Level 1.

After this period, MSVN will automatically transfer funds from the customer's account at MSVN to VSD and/or forcibly close positions to bring the account's margin usage ratio below Warning Level 1.

8.3  Warning Level 3: MR ≥ 95%

MSVN will forcibly close existing positions on the customer's futures trading account and/or take necessary measures to bring the margin usage ratio below Warning Level 1.

9

Maximum position limit for individual customers

5.000 contracts

Maximum position limit for institutional customers

10.000 contracts

Maximum position limit for professional investors

20.000 contracts